| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 31st | Poor |
| Demographics | 8th | Poor |
| Amenities | 58th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 840 Pitts St, Winston Salem, NC, 27127, US |
| Region / Metro | Winston Salem |
| Year of Construction | 2006 |
| Units | 40 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
840 Pitts St, Winston-Salem NC Multifamily Investment
Neighborhood data points to a high renter-occupied share supporting demand and proximity to major employers, according to WDSuite’s CRE market data. Metrics cited reflect neighborhood conditions, not the property’s operations.
Neighborhood fundamentals and livability
The immediate area offers everyday convenience with strong food-and-beverage density: cafes and groceries rank among the top quartile of Winston-Salem’s 216 neighborhoods, and park access is similarly strong. These amenities support leasing appeal relative to other inner-suburb locations, while pharmacy options are limited and childcare density is thin.
Renter-occupied housing accounts for a large share of neighborhood units (top decile locally), signaling depth in the tenant base for multifamily owners. By contrast, neighborhood occupancy trends sit below the metro median, so underwriting should account for competitive positioning and asset-level management to sustain lease-up and retention.
Construction in the neighborhood skews older (average vintage 1951 across the 216-neighborhood metro set), which positions a 2006 asset as newer and relatively competitive versus much of the nearby stock. Investors can lean on that age differential while planning for mid-life system updates or targeted renovations as needed.
Within a 3-mile radius, population and households have grown, with households outpacing population—expanding the renter pool and supporting occupancy stability. Forward-looking projections indicate continued household gains and smaller average household sizes, which typically favor multifamily absorption. These observations reflect multifamily property research using WDSuite as the underlying data source.
Home values in the neighborhood are comparatively low for the region, and rent-to-income measures are modest, which can support lease retention and measured pricing power without overextending affordability. Framed for investors, this mix suggests steady demand potential, with careful revenue management to balance growth and retention.
Safety context
Relative to the 216 neighborhoods in the Winston-Salem metro, the area’s crime rank falls in a competitive range rather than the top quartile, indicating safety is mixed when compared locally. Nationally, safety levels track below average, but recent year-over-year trends show improvement, with both violent and property offenses easing.
For investors, this suggests a location where tenant perception may vary by block and asset quality, and where professional management, lighting, and access control can support leasing and retention. Use submarket and property-level data during diligence to assess trend durability and any micro-location nuances.
Anchor employers and commute drivers
Nearby headquarters and corporate offices underpin a diverse employment base that supports renter demand and commute convenience for workforce tenants. The list below highlights major employers within practical commuting distance mentioned here.
- BB&T Corp. — banking (1.2 miles) — HQ
- Reynolds American — tobacco products (1.4 miles) — HQ
- Hanesbrands — apparel (7.6 miles) — HQ
- VF — apparel & footwear (24.3 miles) — HQ
- Laboratory Corp. of America — laboratory services (44.4 miles) — HQ
Investment thesis
Built in 2006, this 40-unit property stands newer than much of the surrounding housing stock, offering competitive positioning versus older assets while approaching a phase where targeted system updates and selective renovations can drive value. Neighborhood renter concentration is high, amenity access is strong, and major corporate employers sit within a short commute—factors that support tenant demand even as neighborhood occupancy trends run below the metro median.
Within a 3-mile radius, recent growth in households and projected gains suggest a larger tenant base ahead, supporting lease-up and retention. According to CRE market data from WDSuite, local affordability indicators are relatively supportive—useful for revenue management that balances rent growth with retention—while investors should underwrite conservatively given mixed safety readings and uneven neighborhood occupancy.
- Newer 2006 vintage offers competitive positioning versus older neighborhood stock with scope for value-add upgrades.
- High renter-occupied share in the neighborhood supports a deep tenant base for multifamily demand.
- Strong nearby amenities and proximity to major employers enhance leasing appeal and retention.
- 3-mile household growth and projections point to ongoing renter pool expansion, aiding occupancy stability.
- Risks: neighborhood occupancy below metro median and mixed safety signals warrant conservative underwriting and active management.